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In response to COVID-19, some federal loans may qualify for a temporary interest waiver. If you refinance your federally-held loans with U-fi From Nelnet, they will no longer qualify for this waiver. If you have questions regarding the interest waiver, please visit the Federal Student Aid website for the most up to date information.

Student Loan Refinance Calculator


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This calculator is intended for informational purposes only and the estimated monthly payment and rates given are only for Illustrative purposes. The accuracy of this calculator is not guaranteed.

* The lowest interest rate requires a creditworthy eligible borrower, and automatically withdrawn (“auto debit”) payments, a five-year repayment term, and borrowers making immediate principal and interest payments. Not all borrowers will receive the lowest rate. back

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Frequently Asked Questions

  • Be a U.S. citizen or have permanent residency status and possess a valid U.S. Social Security number. U-fi From Nelnet Student Loans are currently available in all U.S. states except Vermont
  • Be the legal age of majority in your permanent state/territory of residency
  • No longer be attending school on a half-time or more basis
  • Have a minimum of $5,000 in eligible student loans you wish to refinance
  • Have entered grace or repayment on the loans you wish to refinance
  • Have at least $36,000 in annual income
  • Have a 680+ credit score

You can select one of the following loan repayment terms:
  • 5-year term
  • 7-year term
  • 10-year term
  • 15-year term
  • 20-year term (for loan amounts of $25,000 or more)
  • 25-year term (for loan amounts of $75,000 or more with variable rate interest)*
With a shorter repayment term, you may lower your interest rate and will lower your overall cost of borrowing, but you will have higher monthly payments. With a longer repayment term, you will lower your monthly payment amount, but you may have a higher interest rate and will increase your overall cost of borrowing. No matter which term you choose, you can always make additional payments without penalty. This lets you pay off your loan faster and saves you money. *Note: Not all repayment terms may be available depending on the borrower's and/or cosigner's credit.

You can select one of the following loan repayment terms:
  • 5-year term
  • 7-year term
  • 10-year term
  • 15-year term
  • 20-year term (for loan amounts of $25,000 or more)
  • 25-year term (for loan amounts of $25,000 or more with variable interest)
Keep in mind that shorter repayment terms often mean lower interest rates and higher monthly payments, which will lower your overall cost of borrowing.

No. Cosigners are only required if your application doesn’t meet certain minimum requirements like age, creditworthiness, employment, or income.

Your cosigner should be a trusted individual who has strong credit, a reliable annual income (at least $36,000), and is a U.S. citizen or has permanent residency status. Your cosigner can be released from the loan after 24 consecutive on-time payments have been made.

Yes. However, before you refinance federal student loans, make sure you understand the benefits you can lose.

You’ll need to have on hand:
  • Contact information
  • Home address
  • Social Security number
  • Employment information (paystub/proof of income)
  • Loan information (loan servicer, interest rate, outstanding balance)

Not initially – getting your estimated interest rates with U-fi From Nelnet will not impact your credit score and it won’t cost you a thing. U-fi From Nelnet uses a soft credit inquiry to see if you meet minimum criteria and to show you what rates you may qualify for. However, after you’ve selected a rate and signed your credit agreement, a hard inquiry will be placed on your credit score.

Unfortunately, spouses would need to establish a separate payment plan through U-fi From Nelnet.

No, U-fi From Nelnet does not offer grace periods or honor grace periods for refinancing. U-fi From Nelnet operates on an immediate full principal and interest repayment plan. First student loan payment is due 30-45 days after the first loan is issued.

A 60-day admin forbearance will be applied while waiting for the customer to return their application. Subsequent 60-day admin forbearance will be applied if the returned application does not contain all necessary information and needs to be returned to the customer; up to a maximum of 180 day of admin forbearance will be processed. Total and Permanent Disability (TPD) can be determined based on determination by US Department of Veteran Affairs or Social Security Administration (SSA), along with a completed total and permanent disability application, sections 1 and 2.

This one’s easy – if you’re wondering how much you’ll save by refinancing your student loan, we built a student loan calculator just for you.